BENTLEY SYSTEMS INC-CLASS B (BSY)
US08265T2087 - Common Stock
BSY gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 277 industry peers in the Software industry. BSY has an excellent profitability rating, but there are concerns on its financial health. BSY is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year BSY was profitable.
BSY had a positive operating cash flow in the past year.
In the past 5 years BSY has always been profitable.
Each year in the past 5 years BSY had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 10.48%, BSY belongs to the top of the industry, outperforming 89.45% of the companies in the same industry.
With an excellent Return On Equity value of 37.72%, BSY belongs to the best of the industry, outperforming 95.64% of the companies in the same industry.
The Return On Invested Capital of BSY (9.51%) is better than 88.73% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BSY is below the industry average of 10.18%.
The 3 year average ROIC (8.07%) for BSY is below the current ROIC(9.51%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.48% | ||
| ROE | 37.72% | ||
| ROIC | 9.51% |
ROA(3y)6.29%
ROA(5y)8.09%
ROE(3y)30.09%
ROE(5y)31.61%
ROIC(3y)8.07%
ROIC(5y)13.81%
1.3 Margins
BSY has a Profit Margin of 28.09%. This is amongst the best in the industry. BSY outperforms 94.18% of its industry peers.
BSY's Profit Margin has improved in the last couple of years.
The Operating Margin of BSY (21.42%) is better than 91.64% of its industry peers.
BSY's Operating Margin has improved in the last couple of years.
BSY's Gross Margin of 79.17% is fine compared to the rest of the industry. BSY outperforms 79.27% of its industry peers.
BSY's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 21.42% | ||
| PM (TTM) | 28.09% | ||
| GM | 79.17% |
OM growth 3Y-2.76%
OM growth 5Y2.87%
PM growth 3Y19.06%
PM growth 5Y5.3%
GM growth 3Y-0.34%
GM growth 5Y-0.67%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BSY is destroying value.
BSY has more shares outstanding than it did 1 year ago.
The number of shares outstanding for BSY has been increased compared to 5 years ago.
Compared to 1 year ago, BSY has an improved debt to assets ratio.
2.2 Solvency
BSY has an Altman-Z score of 4.65. This indicates that BSY is financially healthy and has little risk of bankruptcy at the moment.
BSY has a better Altman-Z score (4.65) than 66.91% of its industry peers.
The Debt to FCF ratio of BSY is 3.41, which is a good value as it means it would take BSY, 3.41 years of fcf income to pay off all of its debts.
BSY's Debt to FCF ratio of 3.41 is fine compared to the rest of the industry. BSY outperforms 62.91% of its industry peers.
A Debt/Equity ratio of 1.53 is on the high side and indicates that BSY has dependencies on debt financing.
With a Debt to Equity ratio value of 1.53, BSY is not doing good in the industry: 81.45% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.53 | ||
| Debt/FCF | 3.41 | ||
| Altman-Z | 4.65 |
ROIC/WACC0.99
WACC9.58%
2.3 Liquidity
A Current Ratio of 0.57 indicates that BSY may have some problems paying its short term obligations.
BSY has a Current ratio of 0.57. This is amonst the worse of the industry: BSY underperforms 92.36% of its industry peers.
BSY has a Quick Ratio of 0.57. This is a bad value and indicates that BSY is not financially healthy enough and could expect problems in meeting its short term obligations.
BSY's Quick ratio of 0.57 is on the low side compared to the rest of the industry. BSY is outperformed by 92.36% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.57 | ||
| Quick Ratio | 0.57 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 14.12% over the past year.
Measured over the past years, BSY shows a quite strong growth in Earnings Per Share. The EPS has been growing by 12.66% on average per year.
BSY shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.00%.
The Revenue has been growing by 12.17% on average over the past years. This is quite good.
EPS 1Y (TTM)14.12%
EPS 3Y32.64%
EPS 5Y12.66%
EPS growth Q2Q24%
Revenue 1Y (TTM)10%
Revenue growth 3Y15.3%
Revenue growth 5Y12.17%
Revenue growth Q2Q7.43%
3.2 Future
The Earnings Per Share is expected to grow by 13.14% on average over the next years. This is quite good.
The Revenue is expected to grow by 11.83% on average over the next years. This is quite good.
EPS Next Y11.17%
EPS Next 2Y12.44%
EPS Next 3Y11.53%
EPS Next 5Y13.14%
Revenue Next Year10.77%
Revenue Next 2Y10.68%
Revenue Next 3Y11.71%
Revenue Next 5Y11.83%
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 58.21, which means the current valuation is very expensive for BSY.
BSY's Price/Earnings ratio is a bit cheaper when compared to the industry. BSY is cheaper than 60.36% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 28.60, BSY is valued quite expensively.
Based on the Price/Forward Earnings ratio of 49.07, the valuation of BSY can be described as expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BSY is on the same level as its industry peers.
BSY is valuated expensively when we compare the Price/Forward Earnings ratio to 20.15, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 58.21 | ||
| Fwd PE | 49.07 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BSY is valued a bit cheaper than 66.55% of the companies in the same industry.
BSY's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. BSY is cheaper than 66.18% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 40.21 | ||
| EV/EBITDA | 53.88 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The excellent profitability rating of BSY may justify a higher PE ratio.
PEG (NY)5.21
PEG (5Y)4.6
EPS Next 2Y12.44%
EPS Next 3Y11.53%
5. Dividend
5.1 Amount
BSY has a yearly dividend return of 0.43%, which is pretty low.
BSY's Dividend Yield is rather good when compared to the industry average which is at 12.33. BSY pays more dividend than 90.55% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.32, BSY's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.43% |
5.2 History
BSY has been paying a dividend for over 5 years, so it has already some track record.
BSY has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years1
Div Non Decr Years3
5.3 Sustainability
BSY pays out 17.67% of its income as dividend. This is a sustainable payout ratio.
DP17.67%
EPS Next 2Y12.44%
EPS Next 3Y11.53%
BENTLEY SYSTEMS INC-CLASS B
NASDAQ:BSY (5/17/2024, 7:00:02 PM)
After market: 55.135 -1.33 (-2.35%)56.46
+0.38 (+0.68%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap16.93B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.43% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
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Min EPS beat(4)
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EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
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Revenue beat(16)
Avg Revenue beat(16)
PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 58.21 | ||
| Fwd PE | 49.07 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)5.21
PEG (5Y)4.6
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.48% | ||
| ROE | 37.72% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 21.42% | ||
| PM (TTM) | 28.09% | ||
| GM | 79.17% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.37
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.53 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.57 | ||
| Quick Ratio | 0.57 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)14.12%
EPS 3Y32.64%
EPS 5Y
EPS growth Q2Q
EPS Next Y11.17%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)10%
Revenue growth 3Y15.3%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y